CBS.MarketWatch.com

Telscape (TSCP)
tscp
said it will report a revenue and earnings shortfall as the result of a bankruptcy filing by one of its major customers, which provided Telsscape with prepaid-card services.

Telscape, based in Houston, was expected to post a profit of 18 cents a share for the quarter, vs. 15 cents the corresponding period a year ago.

In its warning, the company said expects revenue for the period will range $25 million to $27 million, compared to $33.4 million in the first quarter. Telscape said it has adopted a new accounting method for recognizing revenue and expenses, recording sales as customers use the cards as opposed to when they are shipped.

Consequently, the company said most revenue from second-quarter shipments won't be posted until the third quarter.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.